PACKING CREDIT IN RUPEES

Preshipment Credit In Indian Rupees:-

Union Bank of India provides Packing Credit Rupee advance to an exporter for financing the purchase, processing, manufacturing or packing of goods prior to shipment/working capital expenses towards rendering of services on the basis of Letter of Credit opened in favour or in favour of some other person by an Exporter’s overseas buyer or a confirmed and irrevocable order for the export of goods/services from India
Pre shipment Credit is given to exporter

who is holding the Importer –Exporter Code (IEC) Number allotted by DGFT.

Exporter who has not been Caution Listed by RBI and on Specific Approval List (SAL) of ECGC.

Exporter who has an export commitment/order and has capacity to fulfill the same